Industry News

Coveris Holdings S.A. reported fourth quarter 2015 adjusted net sales of $645 million. Adjusted net sales for the fourth quarter of 2014 were $704 million. Excluding the impact of foreign exchange, pass-through of lower resin costs, and acquisitions, adjusted net sales for the fourth quarter of 2015 were approximately in-line with the prior year. Adjusted EBITDA for the fourth quarter was $84 million. Excluding currency impacts, adjusted EBITDA was $90 million or a 16.8% increase over 2014.

Adjusted net sales for the full year were $2.7 billion. Adjusting for the $269 million impact of foreign exchange and the $46 million impact from declining resin prices, adjusted net sales were slightly higher than the prior year, driven by a 2.3% volume improvement over 2014. Adjusted EBITDA for the full-year was $336 million. Adjusting for currency impacts of $32.7 million, adjusted EBITDA would have been $369 million, an 8.2% improvement over the full year of 2014.